Cross-country comparisons of sectoral balance sheets offer crucial indications of differences in overall financial structure, which in turn underlie contrasts in financing and economic behaviour. In this context, this book aims to confront theory and extant empirical work with aggregate financial data across the G-7, covering the period from 1970 to 2000. Viewed in the light of the main theoretical and empirical results in the economic literature, it explores the contrasting patterns and development of financial structures in the UK, the US, Germany, Japan, Canada, France and Italy. It uses as raw material sectoral balance sheet data published by national statistical authorities across the corporate, household, general government, foreign, financial, banking and institutional-investor sectors.
• Combines theory with empirical assessment • Comparative analysis of financial systems • Unique data set
1. System-wide issues; 2. The key differences between the balance sheets; 3. Aspects of the macroeconomic history of the G-7; 4. Corporate finance; 5. The household sector; 6. The general government sector; 7. The foreign sector; 8. The financial sector; 9. The banking sector; 10. Insurance companies, pension funds and mutual funds; 11. Confronting theoretical paradigms with the data; Conclusion.